Integrated Telecom outlines IPO

MattAndrejczak

WASHINGTON (CBS.MW) - Integrated Telecom Express, which develops circuits and software for broadband access providers, said Tuesday it is eyeing an initial public offering valued up to $115 million.

The Santa Clara, Calif.-based company said it plans to use the proceeds to develop new products and boost its worldwide sales and marketing efforts. It reported a 1999 loss of $13.6 million on revenue of $3 million, according to documents filed with the Securities and Exchange Commission.

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